The jackpot for the MEGA Millions draw on Fri Jul 3, 2026, is projected to be $542 Million, with an option for a cash payout of $242 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New Mexico residents, the state will deduct 5.9% from your lottery earnings.
| New Mexico MEGA Millions Jackpot/Cash Option for Fri Jul 3, 2026 |
|---|
| Draw Date | Fri Jul 3, 2026 | | Projected Jackpot | $542,000,000 | | Cash Value | $242,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $242,000,000 | | Federal Tax(24%) | $58,080,000 | | Additional Federal Tax | $31,420,330 | | State Tax(5.9%) | $14,278,000 | | Net Lumpsum Payment | $138,221,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,157,642 |
$2,978,658
$481,301 |
$4,697,683 |
| 2 |
$8,565,768 |
$3,129,665
$505,380 |
$4,930,723 |
| 3 |
$8,993,948 |
$3,288,091
$530,643 |
$5,175,214 |
| 4 |
$9,443,808 |
$3,454,539
$557,185 |
$5,432,084 |
| 5 |
$9,915,890 |
$3,629,210
$585,038 |
$5,701,642 |
| 6 |
$10,411,820 |
$3,812,704
$614,297 |
$5,984,819 |
| 7 |
$10,932,140 |
$4,005,222
$644,996 |
$6,281,922 |
| 8 |
$11,479,018 |
$4,207,567
$677,262 |
$6,594,189 |
| 9 |
$12,052,996 |
$4,419,939
$711,127 |
$6,921,930 |
| 10 |
$12,655,700 |
$4,642,939
$746,686 |
$7,266,075 |
| 11 |
$13,288,214 |
$4,876,970
$784,005 |
$7,627,239 |
| 12 |
$13,952,706 |
$5,122,832
$823,210 |
$8,006,664 |
| 13 |
$14,650,260 |
$5,380,927
$864,365 |
$8,404,968 |
| 14 |
$15,383,044 |
$5,652,057
$907,600 |
$8,823,387 |
| 15 |
$16,152,142 |
$5,936,623
$952,976 |
$9,262,543 |
| 16 |
$16,959,722 |
$6,235,428
$1,000,624 |
$9,723,670 |
| 17 |
$17,807,410 |
$6,549,072
$1,050,637 |
$10,207,701 |
| 18 |
$18,697,916 |
$6,878,559
$1,103,177 |
$10,716,180 |
| 19 |
$19,632,866 |
$7,224,491
$1,158,339 |
$11,250,036 |
| 20 |
$20,614,428 |
$7,587,669
$1,216,251 |
$11,810,508 |
| 21 |
$21,645,312 |
$7,969,096
$1,277,073 |
$12,399,143 |
| 22 |
$22,727,686 |
$8,369,574
$1,340,933 |
$13,017,179 |
| 23 |
$23,863,718 |
$8,789,906
$1,407,959 |
$13,665,853 |
| 24 |
$25,057,202 |
$9,231,495
$1,478,375 |
$14,347,332 |
| 25 |
$26,309,764 |
$9,694,943
$1,552,276 |
$15,062,545 |
| 26 |
$27,625,740 |
$10,181,854
$1,629,919 |
$15,813,967 |
| 27 |
$29,006,756 |
$10,692,830
$1,711,399 |
$16,602,527 |
| 28 |
$30,457,148 |
$11,229,475
$1,796,972 |
$17,430,701 |
| 29 |
$31,980,168 |
$11,792,993
$1,886,830 |
$18,300,345 |
| 30 |
$33,579,068 |
$12,384,586
$1,981,165 |
$19,213,317 |
|
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